Key Developments: Kilroy Realty Corp (KRC)
58.72USD
20 May 2013
$0.05 (+0.09%)
$58.67
$58.68
$58.98
$58.51
415,080
685,753
$59.29
$42.15
Latest Key Developments (Source: Significant Developments)
Kilroy Realty Corp Narrows FY 2013 FFO Guidance To A Range In Line With Analysts' Estimates-Conference Call
Kilroy Realty Corp announced that for fiscal 2013, it is maintaining the midpoint of previous fund from operation (FFO) guidance and tightening the range a bit to $2.46 to $2.60 per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $2.52 for fiscal 2013. Full Article
Kilroy Realty Corp Announces Transition to New Chairman
Kilroy Realty Corp announced the retirement of John B. Kilroy, Sr., as the Company`s Chairman, effective February 28, 2013. The board of directors has elected John Kilroy, Jr. to replace him. Full Article
Kilroy Realty Corp Declares Quarterly Dividends
Kilroy Realty Corp announced that its board of directors declared a regular quarterly cash dividend of $0.35 per common share payable on April 17, 2013 to stockholders of record on March 28, 2013. The dividend is equivalent to an annual rate of $1.40 per share. The board of directors also declared a dividend of $0.4296875 per share on the Company`s 6.875% Series G Cumulative Redeemable Preferred Stock for the period commencing on and including February 15, 2013 up to and including May 14, 2013. The dividend will be payable on May 15, 2013 to Series G preferred stockholders of record on April 30, 2013. The board of directors also declared a dividend of $0.3984375 per share on the Company's 6.375% Series H Cumulative Redeemable Preferred Stock for the period commencing on and including February 15, 2013 and ending on and including May 14, 2013. The dividend will be payable on May 15, 2013 to Series H preferred stockholders of record on April 30, 2013. Full Article
Kilroy Realty Corp Issues FY 2013 FFO Guidance In Line With Analysts' Estimates-Conference Call
Kilroy Realty Corp announced that for fiscal 2013, it is providing initial Fund From Operation (FFO) guidance of $2.43 to $2.63 per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $2.52 for fiscal 2013. Full Article
Kilroy Realty Corp Closes Acquisition of Premier South Lake Union Office Property
Kilroy Realty Corp announced that it has closed on the purchase of Westlake Terry, a two building 320,399 square-foot, Class A office property in the high growth Seattle submarket of South Lake Union for approximately $170 million. The LEED Gold certified property was built in 2007 and occupies a full city block at 320 Westlake Avenue North and 321 Terry Avenue North. The property is ideally located on one of Seattle's main mass transit arterials, Westlake Avenue, as well as directly adjacent to the South Lake Union Transit Line. Full Article
Kilroy Realty Corp's Kilroy Realty, L.P. Prices $300.0 Million Of 3.800% Senior Unsecured Notes Due 2023
Kilroy Realty Corp announced that its operating partnership, Kilroy Realty, L.P., has priced the underwritten public offering of $300.0 million aggregate principal amount of 3.800% senior unsecured notes due 2023. The Notes pay interest semi-annually at a rate of 3.800% per annum and mature on January 15, 2023. The notes were priced at 99.967% of the principal amount to yield 3.804% to maturity. J.P. Morgan, Barclays, BofA Merrill Lynch and Wells Fargo Securities acted as joint book-running managers. The offering is expected to close on January 14, 2013, subject to customary closing conditions. Net proceeds from the offering will be approximately $297.2 million, after deducting underwriters` discounts and estimated expenses. The operating partnership intends to use the net proceeds from the offering of the Notes for general corporate purposes, which may include the acquisition of properties (including office properties and undeveloped land), funding development and redevelopment and the repayment of outstanding debt. Pending such uses, the operating partnership may use net proceeds to temporarily repay borrowings under its revolving credit facility and/or temporarily invest the net proceeds in short-term, interest-bearing securities. Full Article
Salesforce.com Leases 100% of Kilroy Realty Corp's San Francisco Glass and Concrete High Rise Development
Kilroy Realty Corp announced that it has signed a long-term lease with cloud-computing giant salesforce.com for 100% of the real estate investment trust`s 27-story, LEED-platinum-designed office tower now under construction at 350 Mission Street in the heart of San Francisco`s South of Market financial district. Salesforce.com has agreed to lease up to approximately 445,000 square feet which includes approximately 50,000 square feet of must-take space that is subject to KRC obtaining entitlements to add three stories to the building. Full Article
Kilroy Realty Corp Declares Quarterly Dividends
Kilroy Realty Corp announced that its Board of Directors declared a regular quarterly cash dividend of $0.35 per common share payable on January 15, 2013 to stockholders of record on December 31, 2012. The dividend is equivalent to an annual rate of $1.40 per share. The board of directors also declared a dividend of $0.4296875 per share on the company's 6.875% Series G Cumulative Redeemable Preferred Stock for the period commencing on and including November 15, 2012 and ending on and including February 14, 2013. The dividend will be payable on February 15, 2013 to Series G preferred stockholders of record on January 31, 2013. The board of directors also declared a dividend of $0.3984375 per share on the company's 6.375% Series H Cumulative Redeemable Preferred Stock for the period commencing on and including November 15, 2012 and ending on and including February 14, 2013. The dividend will be payable on February 15, 2013 to Series H preferred stockholders of record on January 31, 2013. Full Article
Kilroy Realty Corp Amends $500 Million Unsecured Credit Facility
Kilroy Realty Corp announced that its operating partnership, Kilroy Realty, L.P., completed an amendment to its $500 million unsecured credit facility, which reduced the borrowing costs and extended the maturity date to April 3, 2017. The unsecured credit facility now bears interest at LIBOR plus 1.45% and includes a 30 basis point facility fee. The interest rate and facility fee vary depending upon the Company's credit ratings. Kilroy Realty, L.P. expects to use the facility for general corporate purposes, including funding its acquisition, development and redevelopment programs, and repaying long-term debt. The facility was syndicated to a group of 15 U.S. and international banks led by J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which acted as joint lead arrangers and joint bookrunners. JP Morgan Chase Bank, N.A. will be the administrative agent for the facility and Bank of America, N.A. will be the syndication agent. Barclays Bank PLC, Compass Bank, PNC Bank, National Association, Royal Bank of Canada, Union Bank, N.A., U.S. Bank National Association and Wells Fargo Bank, N.A. acted as joint documentation agents. Other participants in the facility include Bank of the West, a California banking corporation, Comerica Bank, KeyBank, National Association, Sumitomo Mitsui Banking Corporation, Cathay United Bank, LTD., and Chang Hwa Commercial Bank, LTD., Los Angeles Branch. Full Article
Kilroy Realty Corp Lowers High End Of Prior FY 2012 FFO Guidance To A Range In Line With Analysts' Estimates-Conference Call
Kilroy Realty Corp updated fiscal 2012 FFO guidance of $2.21 to $2.25 per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $2.22 for fiscal 2012. Full Article
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